Category: SARS
Taxable Income
With Taxble Income, this is the amount of money that SARS is going to calculate Tax (how much you are supposed to pay SARS) from, and thus, in order to ensure that you pay the amount you are supposed to pay in Tax to SARS, you are supposed to Declare (i.e Inform SARS) how much of your money in your bank account (i.e whether company or personal bank account) is the amount that SARS is supposed to deduct their money from. Thus, without declaring (i.e Informing SARS), how much of your total Income is Taxable Income, SARS will end up taxing 100% of your Income. And you will cry. To avoid that, declare (i.e tell SARS, for the protection of your Assets). Thank me later. Which is why we are here!